California-based construction software provider, StructionSite, has raised $10m (£7.3m) in a funding round led by 500 Global.
PCL Construction and GS Futures also entered the round as strategic investors.
The new funds will be used to expand StructionSite’s intelligent project tracking platform which uses AI to equip teams with advanced insights into jobsite progress.
The company also announced its latest partner integration with Latium Technologies. StructionSite’s project tracking data can now be seamlessly incorporated into Latium’s Job Site Insights(R) (JSI) Smart Construction platform.
Mark Bryant, Latium Technologies CEO, said: “The construction industry is evolving rapidly into one dependent on new technologies to eliminate inefficiencies.
“Together, Latium and StructionSite can provide all of the data and insights needed to maximize ROI, enhance safety measures, mitigate rework, and streamline workflows in an elegant and understandable way.”
Since launching its platform in 2017, customers have used StructionSite technology to capture over $190bn (£139bn) of construction volume, the company said.
StructionSite CEO and co-founder Matt Daly, commented: “After working in the trenches, we knew that technology could be used to transform a number of construction processes, so we set out to build a different kind of ConTech company, one built to solve real-world problems while helping to move organisations, people, and projects into the future.
“By partnering with leaders in construction, we have even more eyes and ears on the ground, identifying pain points and providing insights into the best ways to solve them. We look forward to furthering these unique, highly strategic relationships for the betterment of the industry.”
Image credit: Mikael Damkier/Shutterstock
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